The king of dollar stores has announced its intention to move into the tony retail neighborhood of Rodeo Drive.
99 Cents Only stores, which has locations in Arizona, California, Nevada, and Texas, is the mack daddy of discount stores. They do a better job than anybody else at coming up with surprising deals, not just stuff that comes from overseas that's made cheap to sell cheap.
99 Cents Only has distinguished itself by buying a lot of retail and manufacturer failures that are a phenomenal deal for a buck.
But they're a very polarizing retail experience. People either love or hate this dollar store leader.
Now comes word that the chain wants an address on a prime piece of the Beverly Hills retail landscape. What would Eddie Murphy think of that?
The Los Angeles Business Journal reports the tony retailers in the neighborhood are not so excited about the dollar store chain's aspirations. Yet CEO Eric Schiffer can't understand why.
"Our stores do well with all income levels and all demographics," he says. "Rich people like deals more than anybody."
If you walk down Rodeo Drive, what's so funny is you see these boutiques and they're so severe with no merchandise out, and the very serious salespeople, and all the rest. Think about 99 Cents Only moving in and stacking the aisles to the point of overflowing! What a contrast.
If they open on Rodeo Drive, the same people who say, "What's the world coming to?" would be in there buying and then going to the boutiques with more money in their pockets for spending there!
Never stick your nose in the air and say you're too good to shop at a dollar store of any kind. I tell you, they sure saved me a bundle!